Mr. Marc Lustig reports
CANNAROYALTY AND NATIONAL ACCESS CANNABIS CORP. EXPAND AND SOLIDIFY BUSINESS RELATIONSHIP FOR CANNABIS PRODUCT SALES IN THE CANADIAN MARKET
CannaRoyalty Corp. has signed a binding term sheet to expand its business relationship with National Access Cannabis Corp. to carry CannaRoyalty products in NAC stores across Canada, as legally permitted. NAC is in the process of applying for licences in several Canadian jurisdictions and recently announced that it was one of four entities that has received conditional approval for a licence to operate private retail cannabis stores across Manitoba. The term sheet covers the purchase by NAC of applicable products from CannaRoyalty in each jurisdiction that NAC operates retail stores, as a result of the company's experience distributing and retailing products in mature cannabis markets, as well its existing pipeline and large portfolio of cannabis products.
"CannaRoyalty has assembled a growing portfolio of consumer cannabis brands in a number of sophisticated U.S. cannabis markets and we are confident that these brands will resonate with consumers in the Canadian market as well," said Marc Lustig, chief executive officer of CannaRoyalty. "In any consumer products business, distribution is a key component of the larger strategy. We have already seen it play out in California, where we currently have access to a critical mass of the legal cannabis retailing locations -- and that footprint is growing -- ensuring a robust pathway to market for our portfolio of brands. In addition to our recent announcement regarding an investment into and strategic relationship with leading Canadian vaporizer on-line and retail leader, 180 Smoke, this business relationship enables us to further grow our distribution pipeline in our home market, as Canada moves to adult-use legislation. We believe that 180 Smoke and NAC will each play significant roles across Canada in the cannabis retail space, and we see significant value in the combination of our product portfolio and expertise with their respective track records of operating safe and secure retail stores in Canada."
"CannaRoyalty is a valuable product partner and strategic adviser to NAC as we build out our retail network," said Mark Goliger, chief executive officer of NAC. "It is important to us that we are on the leading edge of the Canadian retail market and are able to provide the Canadian consumer with a wide variety of products to go along with a world-class shopping experience. The expansion of this business relationship will enable us to offer CannaRoyalty's proven product portfolio, not only in our Manitoba stores, but in all Canadian stores we operate, giving customers a consistent choice of products and experience in all NAC stores."
Correction to March 13, 2018, press release
CannaRoyalty subsidiary Trichome Yield Corp. makes additional appointment to board of directors
On March 13, 2018, the company issued a press release regarding the addition of Brent Cox to the Trichome Yield board of directors, which stated, "He [Brent Cox] currently serves on the boards of two successful vertically integrated U.S. cannabis companies, MedMen and The Pharm."
This statement should have read, "He [Brent Cox] currently serves on the board of The Pharm (Sunday Goods), a successful vertically integrated U.S. cannabis company, and formerly served on the board of MedMen."
CannaRoyalty is an active investor and operator in the legal cannabis industry. The company's focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Its management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
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